(1) It is unlawful to make any statement, written or oral, regarding the coverages and protections provided by the association for the purpose of promoting the purchase of any form of insurance.
(2) It is unlawful to indicate or imply that the association is an agency of the state or that the existence of the association is in any way a guarantee by the state or any of its instrumentalities to insure the payment of claims.
(3) The commissioner shall prescribe rules to prevent: (a) use of the association as an inducement for the sale of insurance; (b) the dissemination of false or misleading information regarding the association and its limited guarantees; and (c) the dissemination of information implying that the association is an agency of the state and that the state in any way insures the payment of claims.
(a) use of the association as an inducement for the sale of insurance;
(b) the dissemination of false or misleading information regarding the association and its limited guarantees; and
(c) the dissemination of information implying that the association is an agency of the state and that the state in any way insures the payment of claims.
(4) Any person who violates Subsection (1) or (2) is guilty of a class A misdemeanor. Any person who violates a rule under Subsection (3) is liable to the state for a civil penalty of not less than $250 or more than $1,000.
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